May 30, 2013: Consumer Confidence Index Increases to Five-Year High
Consumers Are More Positive About Current Economic Conditions
NEW YORK — The Conference Board Consumer Confidence Index® increased in May to 76.2, up from 69.0 in April. This is the highest level it has reached in five years.
Lynn Franco, director of economic indicators at The Conference Board, said, “Consumer Confidence posted another gain this month and is now at a five-year high (since February 2008 index of 76.4). Consumers’ assessment of current business and labor-market conditions was more positive and they were considerably more upbeat about future economic and job prospects. Back-to-back monthly gains suggest that consumer confidence is on the mend and may be regaining the traction it lost due to the fiscal cliff, payroll-tax hike, and sequester.”